Australian cattle numbers rebound after six-month decline

Cattle numbers in Australia's feedlots have finally begun to recover six months after a signficant drop in supply.

The small rebound comes despite continuing hikes in grain prices and the strong Australian dollar, according to the Weekly Times. Figures were gathered by the Australian Lot Feeders Association and Meat and Livestock Australia quarterly survey.

The number of cattle on feed was up 13 percent in the past six months. The total number of cattle on feed in June was 685,756 head, up 21 percent from the same month last year.

Still, present cattle on-feed numbers takes up just 51 percent of total feedlot capacity, compared to 77 percent in June last year.

Cattle numbers were up due to more feeder cattle being sent from drought-hit areas in northern Australia. A bumper sorghum crop also saw more producers sending their feeder cattle to feedlots.